In many of my earliest videos (and actually in a monograph I’ve written) I’ve proposed that the next evolution in structured data analysis is like a search engine, but one which performs calculations, which creates metrics: a Metric Engine. Each URL in a search engine is more like a “transaction” than a balance. Search engines do not calculate balances. If they show a balance, it is only because it was created by another posting engine.
Yet as I’ve suggested in this latest series of videos, posting processes are at the heart of all major business systems; blockchain technology to date does not perform posting processes. The coming social banking/commerce platforms will require posting processes; and if we don’t want to simply recreate the legacy systems in a different language on a new platform, we’ll need to change something in the way posting processes work. Something like a metric engine will be required.
This is episode 84 of Conversations with Kip, the best financial system vlog there is. Watch it here